It wasn't that Arkansas snubbed him, really. It all came down to an issue of the buyout. It's whopping, and honestly it's a complete block of any movement for Tuberville. Arkansas had legitimate interest, obviously, but again it's a complete block.
The truth of the matter is that Tuberville really does not want to be with Auburn. He has largely wanted out since the aforementioned Jetgate, and that is why his name keeps popping up. On the other hand, Lowder and company probably aren't too keen on Tuberville, either. They wanted him fired before, and there is probably no trust and or love on either side of that aisle.
With that said, though, they aren't going to reduce the buyout to allow him to leave. Though Lowder and his cronies may not be overly fond of Tuberville, they do know he's a good, proven coach, and his replacement may very well be a downgrade. Moreover, they would receive a massive amount of backlash from the fan base that is ga-ga over him due to his success against Alabama. Beyond that, it's just simple logic: Who the hell is going to pay four million dollars for the right to ax a coach who has averaged nine wins per season and who has completely dominated your obsessive rival this decade? It's a no-brainer.
On the other end of the spectrum, Tuberville cannot make the buyout. He doesn't have the money in his own right to do it, and no school is going to pay it for him. No school out there is going to pay a four million dollar buyout to get Tuberville, and then have to shell out another three million per year to keep him. He's a solid, proven coach who has done well at Auburn, but he hasn't done well enough to justify any school doing that. Schools like Texas A&M and Arkansas would be dumb to do that when they can easily get other guys like Bobby Petrino and Mike Sherman for much cheaper.
It's really just a lesson in unintended consequences. It was a specific clause put in Tuberville's contract at his request to ensure that Auburn could not fire him, and now it acts as an all-encompassing blockade to his departure. Auburn doesn't particularly want Tuberville, and Tuberville obviously doesn't want Auburn, but due to the massive buyout that acts as a complete road block to his movement, they must co-exist.
It's a marriage made in hell, and nothing more.